AI-related digital currencies increased more strongly than Bitcoin
Digital currency projects combined with AI increased sharply in both quantity and market size, surpassing the heat of Bitcoin when it reached its peak.
According to Reuters , the explosion of artificial intelligence has made a big splash in the cryptocurrency market. AI-related blockchain projects have skyrocketed, attracting the attention of both individual investors and large investment funds. The heat of AI tokens even surpasses Bitcoin, even though the world's largest cryptocurrency has peaked in price.
Specifically, data from CoinGecko shows that the market value of the AI token group increased from 2.7 billion USD from April last year to 26.4 billion USD in March. The average price of the project group associated with AI increased from 145% to 297% in the last 30 days. Meanwhile, the number of AI-linked projects also increased 165% in the past 12 months, exceeding Bitcoin's 151% increase. Kaiko Research data shows that AI token trading volume has also increased sharply since the beginning of the year, reaching an all-time high of 3.8 billion USD at the end of February.
Experts are optimistically predicting the combination of blockchain and AI. This makes market observers believe that artificial intelligence will be an important piece of the puzzle in the field of cryptocurrency when it can solve issues related to privacy, as well as the need for computing power.
AI token illustration. Photo: Cointelegraph
Cointelegraph cited reports showing that at the end of February, when Nvidia reached the $2,000 billion capitalization mark, the price of AI-related tokens prospered. OpenAI CEO Sam Altman's Worldcoin token is up 240% to around $8. Similarly, the token of AI analytics company Arkham Intelligence (ARVM) is up 211%, trading around $1.68.
Reuters quoted Markus Levin, co-founder of blockchain data storage company XYO Network: "As both AI systems and blockchain networks continue to develop, we will see more and more projects combining these two technologies." . Meanwhile, two experts Matthew Sigel and Patrick Bush at VanEck Investment Management Fund, commented that "AI applications are the reason for the existence of cryptocurrencies".
Some leading blockchain projects like Render Network are mobilizing AI chips around the world to run algorithms involved in training large language models.
Illia Polosukhin, co-founder of Near, said AI increasingly requires massive computing power. Giant technology companies like Microsoft have invested $50 billion in data infrastructure by 2024 just to serve AI needs. Meanwhile, the decentralization of blockchain can allow for efficient exploitation of the global computing network by taking advantage of the computing power of each user.
VanEck expert Sigel points out that using tokens as rewards for developing physical computing infrastructure, data verification, and transparency in digital ownership certification will be a big touchpoint for AI. and blockchain. This brings real value to AI development, helping projects quickly expand computing networks without depending on expensive machines.
Digital currencies will incentivize owners of physical infrastructure to participate in the blockchain network, thereby helping AI continue to explode. Although the risks of this model cannot yet be fully imagined, analysts predict that the AI revolution is in its early stages. The combination with blockchain can bring a lot of potential, but nothing is certain when the money market The number is still highly volatile and highly seasonal.
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